Consumers are faced with
many of them work for
.
How
approaches to holiday shopping
including Black Friday and Cyber Monday, Larry Zelvin, Chapter
(BMO) expects fraudulent activity to increase as AI makes it easier to commit fraud.
Bye ”
This year, artificial intelligence could make things worse, Zelvin said.
“What's going to hit us in the next few weeks, I think those numbers are going to go up significantly because AI is a game changer because it lowers the bar for anyone who wants to commit these types of scams,” he said in an interview.
BMO said more than two million Canadians were scammed during past Black Friday and Cyber Monday events.
Almost three percent
in Canada during Thanksgiving-Cyber Monday last year were reported as fraudulent, up 51 percent from the previous year.
Artificial intelligence has made scams more convincing and harder to detect, Zelvin said.
“Fraudsters can now imitate trusted brands and voices with alarming accuracy. Consumers should be more skeptical than ever.”
He added that it will be more difficult for people to figure out which site is legitimate and which is not.
“I've been doing this for over a decade, and the number of fraud victims I'm talking to now is far greater than at any time in my career,” he said. “Again, this is because of AI, and people are unfortunately falling in love with things that they may not have fallen in love with a year or two ago.”
The scams can look “absolutely perfect,” Zelvin said, from impersonating executives to false investment opportunities and large-scale cryptocurrency scams.
One of the new trends to pay attention to is when
cameras use AI to create fake retailer websitesphishing emails and fake videos posing as trusted brands or influencers.
Another case when f
Roadsters embed malicious links into QR codes found in advertisements, emails or packaging. Fake influencer accounts and counterfeit products on the TikTok store are also luring shoppers into phishing traps.
Digital pickpocketing is also on the rise. This is when with
criminals use contactless payment devices to view data from phones or wallets without physical contact.
BMO said
Consumers can follow these steps to protect themselves from scams this holiday season:
- Check URLs and look for HTTPS security indicators.
- Go directly to retailers' websites rather than clicking on links in emails or text messages.
- Use credit cards, which offer better fraud protection than debit or payment apps.
- Be skeptical about urgency. “Limited time offers” are a common scam tactic.
- Research unfamiliar sellers before you buy, especially on social platforms.
“If a deal looks too good to be true, it probably is,” Zelvin said. “Slow down, check the source, and don’t let urgency override caution.”
• Email: [email protected]
